Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026
Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026
Importers must repatriate advance payments if imports do not materialise; future advances require bank standby LC or guarantee. If an importer does not import within the contract or extended period, the importer must repatriate any advance payment; failure to repatriate or to have ... Summary
Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026
Importers must repatriate advance payments if imports do not materialise; future advances require bank standby LC or guarantee.
If an importer does not import within the contract or extended period, the importer must repatriate any advance payment; failure to repatriate or to have the IDPMS entry marked off requires that any future advance payments be secured by an unconditional, irrevocable standby Letter of Credit or a guarantee from an international bank of repute, or an Authorised Dealer guarantee issued against an international bank counter guarantee.
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